The challenges of 2020 don’t seem to be slowing down as we head toward Open Enrollment and benefit meetings. Many brokers will be faced with the difficult task of communicating another year of rising health plan costs to valued clients.
Here are four tips to help brokers navigate these benefit meetings in 2020.
4 tips to help you navigate benefit meetings:
Modernize the customer experience
Online shopping has never been more popular, and that doesn’t exclude shopping for plans- it’s time to modernize the customer experience.
For group insurance brokers, this change could risk the future of their industry. Certainly, clients can shop easily online for their insurance without going through an intermediary. Now more than ever clients expect brokers to be their advocates – specialized associates bringing them fresh suggestions and helping them control costs with tailored explanations designed for their workforce.
Do your research. Learn everything you can about your client to support their health plan goals. Consider reviewing:
- Current workforce
- Company goals
Take a pre-tax refresher class
Pre-tax benefits and its legislation can be challenging for anyone to understand.
Humans are very effective at forgetting knowledge we don’t need, and the greatest way we have of showing our brain that certain information is still useful is by using it. It’s a simple case of “use it or lose it.”
A refresher course is designed to bring learners back to the basics so that they can review fundamentals they may have forgotten, or brush up on new information they may not be aware of.
Think outside the box and help find pre-tax savings for clients
Specialty Accounts represent a new category of benefits that are specifically designed to address the unique needs of your clients. Employers can select from a variety of predefined expense categories or design a customized program.
BRI can administer and manage Specialty Accounts, help adjudicate claims, and approve purchase reimbursements — removing the hassle of managing a program for your clients.
Focus on client relationships and let a TPA handle the administration of client plans
Administrative tasks can be a huge time suck. Invest more time in relationship building and advising your clients. This allows you to:
- Solidify your brand image as an active and attentive consultant.
- Help identify more business opportunities within your client portfolio.
At the end of the day, employers and their staff have the most to gain from better relationships and better administration.
Looking beyond benefit meetings in 2020
Check out these other resources you and your clients can use to prepare for Open Enrollment in 2020.